|
EMRISE CORPORATION RECEIVES MORE THAN $2.3 MILLION IN FOLLOW-ON ORDERS FOR EUROFIGHTER TYPHOON AIRCRAFT Backlog of Military Electronic Devices for Eurofighter Rises to $5.5 Million, Shipments to Run Through 2010 RANCHO CUCAMONGA, CA.—July 10, 2008—EMRISE CORPORATION (NYSE Arca: ERI), a multi-national manufacturer of defense and aerospace electronic devices and communications equipment, today announced it has received more than $2.3 million in follow-on orders from a long-standing U.K. customer for electronic devices for the Eurofighter Typhoon aircraft. The orders bring the Company’s backlog of military electronic devices for the Eurofighter to $5.5 million. For the balance of 2008, the Company expects to ship $1.1 million, bringing total shipments for the full year to approximately $2.2 million with an equal amount expected to be shipped each year thereafter through 2010. Shipments against the orders announced today will commence in late 2009 and run through 2010. EMRISE President and Chief Executive Carmine T. Oliva said: “These orders are part of the largest production contract ever awarded to EMRISE, which now totals more than $11.8 million. The original contract was awarded about four years ago and included approximately $750,000 in product development and pre-production shipments. Full-production orders have averaged about $2.2 million a year since 2005 and are expected to continue through 2010. “Sales of military electronic devices, such as these for the Eurofighter Typoon aircraft, remain a core business, and we expect continuing growth of sales to the military market in 2008 and beyond,” Oliva added. Oliva also said that the Eurofighter Typhoon aircraft is a new military aircraft program which is likely to continue for many years, as customers in both European and non-European countries, such as the Royal Saudi Air Force, are purchasing the aircraft. Developed by Europe’s leading aerospace companies, Eurofighter Typhoon has become the aircraft of choice for six nations—Germany, Italy, Spain, United Kingdom, Austria and the Kingdom of Saudi Arabia—and is designed to fulfill those nations’ air forces requirements well into this century. The orders were received by the Company’s Xcel Power Systems Ltd subsidiary located in England and, according to Oliva, reflect the success of a long-term technical development program with the customer and further demonstrate the Company’s ability to win and make timely deliveries on multi-year contracts. About EMRISE Corporation EMRISE designs, manufactures and markets electronic devices, sub-systems and equipment for aerospace, defense, industrial and communications markets. EMRISE products perform key functions such as power supply and power conversion; RF and microwave transmission; digital and rotary switching; network access and timing and synchronization of communications networks. Primary growth driver applications for EMRISE products include commercial avionic “In-Flight Entertainment and Communications” products and communications “Network Timing and Synchronization” equipment. EMRISE serves customers in North America, Europe and Asia through operations in the United States, England, France and Japan. The Company has built a worldwide base of customers including all of the Fortune 100 in the U.S. that do business in markets served by EMRISE and many similar-size companies in Europe and Asia. For more information go to www.emrise.com Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 With the exception of historical information, the matters discussed in this press release, including without limitation EMRISE’s ability to continue to successfully capture and manage multi-year contracts, ability to maintain shipment coverage through 2010, and ability to record solid revenue increases from the electronic devices military market in 2008 and beyond, are all forward-looking statements that involve a number of risks and uncertainties. The actual future results of EMRISE Corporation could differ from those statements. Factors that could cause or contribute to such differences include, but are not limited to, unforeseen technical issues; changes from within the European military aircraft program; economic difficulties; competitive pressures; unforeseen quality, manufacturing or performance issues associated with the electronic devices to be used on the Eurofighter Typhoon aircraft; and those factors contained in the “Risk Factors” Section of the Company’s Form 10-K for the year ended December 31, 2007, and other Company filings. # # #
|

